Eupraxia prices shares of offering at $5.50 (U.S.)

Ms. Danielle Egan reports EUPRAXIA PHARMACEUTICALS ANNOUNCES PRICING OF US$70 MILLION PUBLIC OFFERING OF COMMON SHARES Eupraxia Pharmaceuticals Inc. has priced its previously announced public offering of 12,727,273 common shares of the company at a price to the public of $5.50 (U.S.) per common share for gross proceeds of approximately $70-million (U.S.), before deducting the underwriting commissions and estimated expenses incurred in connection with the offering. In addition, the company has granted the underwriters a 30-day option to purchase up to an additional 1,909,090 common shares on the same terms and conditions. All of the common shares in the offering are being sold by the company. The offering is expected to close on Sept. 24, 2025, subject to the satisfaction of customary closing conditions, including the listing of the common shares to be issued under the offering on the Toronto Stock Exchange and Nasdaq Capital Market, and receipt of any required approvals of the TSX. Cantor Fitzgerald & Co. and LifeSci Capital LLC are acting as joint book-running managers for the offering. Bloom Burton Securities Inc. is also acting as co-manager for the offering. The company intends to use the net proceeds from the offering primarily for the continued advancement of its product pipeline, including the completion of continuing preclinical studies and clinical trials, regulatory submissions, and associated commercial preparation and manufacturing scale-up activities. A portion of the proceeds will also be allocated to research and development of additional pipeline candidates, business development initiatives, and general corporate purposes, which may include, but are not limited to, employee salaries, working capital, leases for facilities, administrative expenses and capital expenditures. The company may also use a portion of the proceeds to expand its intellectual property portfolio and strengthen its corporate infrastructure to support future growth. The offering is being made pursuant to a U.S. registration statement on Form F-10, declared effective by the U.S. Securities and Exchange Commission on Feb. 7, 2024, and the company's existing Canadian short form base shelf prospectus dated Feb. 5, 2024. A preliminary prospectus supplement relating to and describing the terms of the offering has been filed with the securities commission in all of the provinces and territories of Canada, except Quebec, and with the SEC in the United States, and a final prospectus supplement relating to and describing the terms of the offering will be filed with the securities commissions in all of the provinces and territories of Canada, except Quebec, and with the SEC in the United States. The supplement and accompanying base prospectus contain important detailed information about the offering. The supplement and accompanying base prospectus can be found on SEDAR+ and on EDGAR. Copies of the supplement and accompanying base prospectus may also be obtained from Cantor, attention: capital markets, 110 East 59th St., sixth floor, New York, N.Y., 10022, or by e-mail at [email protected], from LifeSci Capital at 1700 Broadway, 40th floor, New York, N.Y., 10019, or by e-mail at [email protected], or from Bloom Burton at [email protected]. Prospective investors should read the supplement and accompanying base prospectus and the other documents the company has filed before making an investment decision. About Eupraxia Pharmaceuticals Inc. Eupraxia is a clinical-stage biotechnology company focused on the development of locally delivered, extended-release products that have the potential to address therapeutic areas with high unmet medical need. Diffusphere, a proprietary, polymer-based microsphere technology, is designed to facilitate targeted drug delivery of both existing and novel drugs. We seek Safe Harbor.